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Turkey’s currency dropped by 1/5 of its value against the US dollar on August 10, 2018. One of the most significant rescue packages came from Qatar which came up with USD 15 billion worth of investments for Turkey.

The world is seeing a complex clash of rising ideologies: populism, isolationism, liberalism, conservatism, trade constructivism, etc. The world is no longer in a binary order but one in which partnerships are forged when there are incentives to do so.

The US is preparing for a new round of tariffs on USD 200 billion worth of Chinese products, following an earlier 25 percent tax on USD 34 billion in Chinese imports. The second wave of tariffs includes finished products sought after by the average US consumer.

In the clash of the titans between the US and China, with a potential trade war looming in the background, trade in advanced technology and their intellectual property rights protection appear to be at the core and center of this disagreement.

As the G7 meeting was held close to the SCO gathering, observers did not fail to notice the contrasts between the two. They noted that there appeared to be strong unity within the SCO, while the G7 ended in a disagreement between the leaders of Canada and the US.